Assenagon Asset Management S.A. Raises Position in Shake Shack, Inc. $SHAK

Assenagon Asset Management S.A. grew its holdings in shares of Shake Shack, Inc. (NYSE:SHAK) by 1,730.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,635 shares of the company’s stock after acquiring an additional 209,527 shares during the period. Assenagon Asset Management S.A. owned about 0.52% of Shake Shack worth $17,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SHAK. Glenview Trust co lifted its holdings in Shake Shack by 1.5% in the 2nd quarter. Glenview Trust co now owns 6,925 shares of the company’s stock worth $974,000 after purchasing an additional 100 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Shake Shack by 12.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 964 shares of the company’s stock valued at $91,000 after buying an additional 107 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Shake Shack by 3.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,972 shares of the company’s stock valued at $558,000 after buying an additional 125 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Shake Shack by 5.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,503 shares of the company’s stock valued at $234,000 after buying an additional 138 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Shake Shack by 83.7% in the third quarter. Global Retirement Partners LLC now owns 327 shares of the company’s stock worth $31,000 after buying an additional 149 shares in the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. DA Davidson assumed coverage on shares of Shake Shack in a research report on Friday, March 6th. They set a “buy” rating and a $125.00 target price for the company. Zacks Research upgraded shares of Shake Shack from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Raymond James Financial set a $140.00 price objective on shares of Shake Shack in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded Shake Shack from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Tuesday, January 6th. Finally, TD Cowen lifted their target price on Shake Shack from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Shake Shack presently has an average rating of “Hold” and an average target price of $116.64.

Shake Shack Price Performance

Shares of Shake Shack stock opened at $85.14 on Friday. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 78.11, a price-to-earnings-growth ratio of 4.82 and a beta of 1.73. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.76. The stock has a 50 day moving average price of $92.39 and a 200-day moving average price of $91.03. Shake Shack, Inc. has a one year low of $72.93 and a one year high of $144.65.

Shake Shack (NYSE:SHAK) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $400.53 million for the quarter, compared to analyst estimates of $402.06 million. Shake Shack had a return on equity of 11.08% and a net margin of 3.16%.Shake Shack’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. Equities analysts expect that Shake Shack, Inc. will post 1.26 EPS for the current year.

Shake Shack Company Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.